Kraken Announces Strategic Alliance with ThayerMahan

ST. JOHN’S, NEWFOUNDLAND and GROTON, CONNECTICUT – 26 FEBRUARY 2018 /Marketwired/ – Kraken Robotics Inc. (TSX-V: PNG) (OTCQB: KRKNF) (“Kraken” or the “Company”), announced today that its wholly-owned subsidiary, Kraken Robotic Systems Inc. has entered into a strategic alliance agreement with ThayerMahan Inc., a US based systems integrator specializing in maritime autonomous systems. Both companies are collaborating to deliver next generation underwater sensors and robotics for military, law enforcement, port and maritime security and environmental monitoring applications.

ThayerMahan Inc. was founded by retired U.S. Navy Vice Admiral Mike Connor, who also serves on Kraken’s Board of Directors. During a 35-year career, Vice Admiral Connor commanded at the ship, squadron and task force levels. He served as Commander of the entire U.S. submarine force from September 2012 until September 2015. Vice Admiral Connor led the US Navy’s submarine force into robotic undersea systems, achieving key milestones including the first operational deployment and recovery of an unmanned underwater vehicle from a submarine.

Management Comments

“The military operates in an increasingly complex and challenging technology environment,” said Vice Admiral Connor. “At ThayerMahan, it is our mission to integrate and deploy the latest sensors, robotics and machine learning technology as affordable and innovative solutions. We believe it is crucial to work with partners who are as committed and passionate about what they do, as we are. We feel that Kraken has developed technology that is driving innovation in our industry and significantly benefits our mutual customers”.

“The strategic alliance with ThayerMahan enables us to expand our underwater technology into new applications,” said Karl Kenny, Kraken’s President and CEO. “We are thrilled that this relationship can accelerate our access to new US Navy opportunities such as the Advanced Naval Technology Exercise 2018.”

US Navy’s Advanced Naval Technology Exercise 2018

The Advanced Naval Technology Exercise (ANTX 2018) is an annual, invitation-only event that was created by the U.S. Navy to see the future of naval technology in action today. Warfare centers, other Navy commands, universities and industry leaders are invited to showcase their technologies and capabilities during this event. The event provides an opportunity to test new unmanned systems and related technologies, while gaining access to US Navy test ranges, facilities and people. This includes access to Autonomous Undersea Vehicles, Unmanned Surface Vehicles and Unmanned Aerial Vehicles, as well as command, control and communication capabilities. ANTX also provides a low risk environment where scientists, engineers and sailors can evaluate technological innovations at the research & development level before they become militarized and interfaced within Navy operations.

The theme for ANTX 2018, being held from August 27 – 31, 2018, is Human-Machine Optimization and Integrated Targeting in Maritime Environments. Key tasks include conducting live demonstrations of the tactics, techniques and procedures that are used in the collection, storage and transmission of actionable intelligence.

SeaScout® Expeditionary System for Seabed Mapping and Intelligence

During the exercise, ThayerMahan intends to deploy and demonstrate SeaScout® – an expeditionary system for seabed mapping and intelligence. SeaScout® will feature the following characteristics:

About Kraken Robotics Inc.
Kraken Robotics Inc. (TSX.V:PNG) (OTCQB: KRKNF) is a marine technology company, founded in 2012, that is dedicated to the production and sale of software-centric sensors and underwater robotic systems. The company is headquartered in St. John’s, Newfoundland with offices in Dartmouth, Nova Scotia; Bremen, Germany; and Fairfax, Virginia. For more information, please visit www.krakenrobotics.com, www.krakenrobotik.de, www.krakenpower.de. Find us on social media on Twitter (@krakenrobotics), Facebook (@krakenroboticsinc), and LinkedIn.

Certain information in this news release constitutes forward-looking statements. When used in this news release, the words “may”, “would”, “could”, “will”, “intend”, “plan”, “anticipate”, “believe”, “seek”, “propose”, “estimate”, “expect”, and similar expressions, as they relate to the Company, are intended to identify forward-looking statements. In particular, this news release contains forward-looking statements with respect to, among other things, business objectives, expected growth, results of operations, performance, business projects and opportunities and financial results. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Such statements reflect the Company’s current views with respect to future events based on certain material factors and assumptions and are subject to certain risks and uncertainties, including without limitation, changes in market, competition, governmental or regulatory developments, general economic conditions and other factors set out in the Company’s public disclosure documents. Many factors could cause the Company’s actual results, performance or achievements to vary from those described in this news release, including without limitation those listed above. These factors should not be construed as exhaustive. Should one or more of these risks or uncertainties materialize, or should assumptions underlying forward-looking statements prove incorrect, actual results may vary materially from those described in this news release and such forward-looking statements included in, or incorporated by reference in this news release, should not be unduly relied upon. Such statements speak only as of the date of this news release. The Company does not intend, and does not assume any obligation, to update these forward-looking statements. The forward-looking statements contained in this news release are expressly qualified by this cautionary statement.

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Kraken Robotics is a marine technology company engaged in the design and sale of advanced sonar and optical sensors for underwater vehicles used in military and commercial applications. We are recognized as world leading innovators of SAS, a revolutionary underwater imaging technology that provides ultra-high resolution seabed imagery. In addition, we have developed our own underwater vehicles which offer a highly integrated underwater offering with a strong price/performance value proposition.